Gas Masks Market - Industry Shares, Market Strategies and Key Players
Gas Masks Market Report Cover Global Industry Analysis, Size, Share, Marketing Growth and Forecast to 2016-2026
New York, NY -- (SBWire) -- 11/10/2017 --Powered Air Purifying Respirators product type segment is anticipated to grab major share in the global gas masks market
Powered air purifying respirators segment is expected to account for a major share in the global gas masks market during the predicted period. The powered air purifying respirators segment accounted for the second largest market value share of close to 40% in 2016 and is anticipated to gain more than 20 BPS over the forecast period. Revenue contribution of this segment is expected to increase with a CAGR of 2.1% over the forecast period. Powered air purifying respirators are primarily preferred by firefighters and governments across countries have increased the budget allocation of civic safety equipment procurement. Furthermore, respective agencies are also upgrading equipment, which in turn is boosting the demand for powered air purifying respirators. The market share of this segment is predicted to increase by a margin of 0.85% in 2026. The segment is likely to be valued more than US$ 900 Mn in 2017 and is projected to reach a market valuation in excess of US$ 1000 Mn by 2026. The powered air purifying respirators segment is estimated to create incremental opportunity of US$ 200 Mn between 2015 and 2026.
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Stringent regulations in conjunction with increasing preference towards providing safety at the workplace is driving revenue growth of the powered air purifying respirators segment
Several regulations put in place by government bodies mandates employers to assess hazards at the workplace and provide workers with personal protective equipment including gas masks as required. Stringent regulations in conjunction with increasing preference towards providing safety at the workplace are driving the growth of the powered air purifying respirators segment. Employers are focusing on providing improved protection against the various encountered risks at the workplace. This has led to the development of new manufacturing technologies and materials. In line with this, in the recent past, the powered air purifying respirators segment has witnessed the introduction of several high technology innovative products that comply with prevalent industry standards. These high-quality cost-effective gas masks are expected to propel the growth of the powered air purifying respirators segment over the forecast period.
Growing industrialization in emerging countries such as China and India is expected to fuel market demand in the powered air purifying respirators segment globally during the period of assessment. Sustained government support coupled with the increased outsourcing of manufacturing endeavors from developed nations has propelled industrialization in these emerging economies.
With the increasing number of accidents, subsequent fatalities and injuries in mining, construction, oil and gas and chemical industries, adoption of personal protective equipment such as powered air purifying respirators for the labor workforce has become a critical requirement. Adoption of powered air purifying respirators in various industries not only significantly reduces injuries and fatalities but also increases productivity output. This factor is creating a positive impact on the powered air purifying respirators segment.
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Powered air purifying respirators segment is projected to reach the highest CAGR of 3% in the APAC gas masks market
The powered air purifying respirators segment is estimated to be the most attractive segment with a CAGR of 2.4% in North America, while in Europe the powered air purifying respirators segment of the global gas masks market is expected to reach a Compound Annual Growth Rate of 2.3% and is estimated to reach a little more than US$ 140 Mn by the end of the forecast period. In the Asia Pacific gas masks market, the powered air purifying respirators segment is expected to create incremental opportunity of more than US$ 60 Mn during 2016-2026. The segment is projected to be the most attractive segment with a CAGR of 2.5% and is anticipated to reach a market valuation close to US$ 90 Mn by the end of the forecast period in the MEA gas masks market.
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